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Thursday’s Currency trade

by Gav Leave a Comment

Since you are reading my blog and it is New Year, I will share with you a trading secret. ‘Go short when market is trending down’. Happy, eh? 🙂

OK, back to business. I was thinking to start trading next week. However, the nice setup in EUR/JPY was just seductive. Yeah, seductive. I went short during early London session, and my profit target was hit early. I was looking at EUR/JPY to lose ground to 160. It might go lower, but…I don’t care. +85 pips to start the year.

Another option is to sell partial of your position and let the rest run. Well, up to you.

Here is the …… CHART!

[photopress:EURJPY03Jan2008.JPG,full,alignleft]

Filed Under: Trading Journal

Reader Interactions

Comments

  1. Tom says

    January 3, 2008 at 11:31 am

    Nice to see that you got some profit out of that one, I was holding long and got beat up! 🙂 Such is life!

    Reply
    • Gav says

      January 3, 2008 at 11:43 am

      Yeah, I read about your EUR/JPY trade. Ouch…
      But, who knows? maybe I am just looking at a smaller picture than you do 🙂

      Reply
  2. Tom says

    January 3, 2008 at 9:31 pm

    Nice to see that you got some profit out of that one, I was holding long and got beat up! 🙂 Such is life!

    Reply
    • Gav says

      January 3, 2008 at 9:43 pm

      Yeah, I read about your EUR/JPY trade. Ouch…
      But, who knows? maybe I am just looking at a smaller picture than you do 🙂

      Reply
  3. john says

    January 5, 2008 at 11:55 pm

    short when the markets going down! absolutely genius

    have a great new year tradergav

    Reply
    • Gav says

      January 6, 2008 at 12:10 am

      Thanks John. I see you are doing pretty well at MtM.
      Have a great 2008!

      Reply
  4. john says

    January 6, 2008 at 9:55 am

    short when the markets going down! absolutely genius

    have a great new year tradergav

    Reply
    • Gav says

      January 6, 2008 at 10:10 am

      Thanks John. I see you are doing pretty well at MtM.
      Have a great 2008!

      Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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